HC rules in Tata Sons’ favour; denies Nusli Wadia claims

HC rules in Tata Sons’ favour; denies Nusli Wadia claims
Nusli Wadia, independent director on the board of Tata Motors, Tata Steel and Tata Chemicals, filed a Rs 3,000 crore defamation case on the conglomerate. Image Source: IANS
By ZeeBiz WebTeam
Updated: Fri, Dec 16, 2016
04:56 pm
Mumbai, ZeeBiz WebDesk
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The Bombay High Court on Friday denied every interim relief claimed by Nusli Wadia and ruled in Tata Sons' favour.

“The Hon’ble Bombay High Court has allowed the EGMS of all Tata Companies to proceed without any intervention and as planned. Tata Sons’ votes will be counted and factored in as per the law,” a statement from Tata Sons said.

Tata Sons added, “The Hon’ble Bombay High Court, with the consent of parties, passed an order that one board seat amongst the maximum permissible directors as per the Articles of each company, should remain unfulfilled until the resolution of this suit.”

This comes after Nusli Wadia, independent director on the board of Tata Motors, Tata Steel and Tata Chemicals, filed a Rs 3,000 crore defamation case on the conglomerate.

Wadia will be facing a vote by respective shareholders of the companies to a resolution moved by Tata Sons seeking his removal from the boards.